How the HIRE act affects the 2nd quarter Federal payroll tax return
First-Time Homebuyer Credit Closing Deadline Extended to 09/30/2010
Overview of how the new health care reform bills affect you and your taxes.
Charitable Cash Contribution for Haiti Earthquake victims can be claimed on year 2009 income tax returns.
The tax on 2010 conversions can be deferred and spread out over two years.
Those who have owned a home for 5 consecutive years, out of the last 8 can qualify for a tax credit up to $6,500 for purchaing a new principal residence.
First Time Home Buyer's Credit is extended through April 30, 2010.
Highlights of The 2009 Recovery Act
A tip to make ease of record keeping!
You must have written proof (cancelled check, bank statement, credit card statement, or receipt) for any cash donations - even down to $1. Your own personal note doesn’t count anymore.
Under the changed IRS tax rule, the parent with which the child resides for the majority of the year is considered the custodial parent and shall receive the child related tax benefits and/or credits, including the dependent exemption.
In the 2008 tax return, there will be a worksheet for those who received no or a reduced Economic Stimulus payment and they will possibly receive a credit for the amount they didn’t receive in 2008.
On your 2008 tax return, you will see an important change regarding the property tax deduction.
On July 30th President Bush approved the Housing and Economic Recovery Tax Act of 2008.
There have been numerous errors involving the Economic Stimulus Package Rebates.
The IRS has recognized that we all are suffering from the high gasoline prices and they have announced an increase in the standard mileage rates for the second half of 2008.
On their 2007 tax returns, individuals in the 10% and 15% tax brackets pay a maximum capital gains rate of 5%. On their 2008 tax returns, these individuals will pay 0% capital gains tax.
In an effort to boost the U.S. economy, Congress passed the Economic Stimulus Package Act of 2008 on February 7. The legislation will provide tax rebate checks to about 130 million households, starting sometime in May.
